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Qualcomm rejects Broadcom offer

NEW YORK: U.S. semiconductor company Qualcomm Inc on Thursday rejected Broadcom Ltd´s revised $121 billion buyout offer, but proposed meeting its peer to see whether they can address what it called the bid´s "serious deficiencies in value and certainty.

"Qualcomm´s response attempts to strike a balance between continued resistance of Broadcom´s takeover attempt and heeding the calls of some Qualcomm shareholders, who urged the company in recent days to engage with its rival in case it can clinch an attractive deal.